Why The US And German Government Selling Bitcoin Isn’t A Big Deal
Summary
Whale selloffs in the Bitcoin market have included miners, a few other whales, and the German government. However, the impact of government selloffs on Bitcoin's price is disputed. Ki Young Ju of CryptoQuant argues that the selling pressure from government-linked wallets is overrated, citing data showing that government-owned Bitcoins make up a small portion of the market. The current state of Bitcoin sees it trading at $57,360, with efforts needed to push the price back into the $60,000 territory for a potential upward trend.
